1. I have connections. It is very valuable and almost necessary to have connections. It is not that rare, because many people have them. It is also very imitable. There are not really other resources that provide the same benefits as connections.
2. My education is another resource. It is very valuable. It not rare, because most people go to school. It is very imitable. However, there are not other resources that would provide me the same benefits.
3. The amount of money I have is another one of my resources. Money is very valuable, rare, non-imitable, and non-substitutable.
4. My patience is another resource. Patience is very valuable. Sometimes it can be rare and non-imitable. It could be substituted by other personality traits.
5. My computer skills are a resource. They are valuable because of the increasing innovations in technology. These skills are not that rare because today's generation is always using the computer. It is imitable, but cannot be substituted.
6. My public speaking skills are another resource. These are valuable if one must make speeches. I think that they are extremely valuable and non-imitable. They can probably be substituted if one does not have to make many speeches.
7. My confidence is another resource. This is not as valuable as my other resources. It is also not rare. It is imitable and substitutable.
8. I am also very responsible. This is extremely valuable. However, I would not say that it is rare. It is imitable and substitutable.
9. I would say that my perseverance is valuable, rare, imitable, and non-substitutable.
10. Finally, my honesty is a valuable resource. It may be rare. It is also imitable and substitutable.
My most important resource is my education. Even though it is not that rare, I still think that it is extremely valuable. I will be able to learn so much through school.
Hey Tyler, you and I both share some of the same characteristics. I have connections, education and computer skills just like you. I think next time if we have another assignment like this, you should split up the resources by category.. like human capital etc... Also you should be more specific in why they are valuable, rare, inimitable and non-substitutable. Check out mine here: http://andrewdales.blogspot.com/2016/03/my-unfair-advantage.html
ReplyDeleteGreat read Tyler, my thoughts on your analysis is that you did a good job at listing your valuable resources.
ReplyDeleteI think this assignment really gave us the opportunity to put our idea and our resources in perspective of how best we can accomplish it.
But most importantly how unique our business concept is in the marketplace. While there may be similar like businesses in the market place, this exercise allows us to see what makes our idea different.
Great read Tyler, my thoughts on your analysis is that you did a good job at listing your valuable resources.
ReplyDeleteI think this assignment really gave us the opportunity to put our idea and our resources in perspective of how best we can accomplish it.
But most importantly how unique our business concept is in the marketplace. While there may be similar like businesses in the market place, this exercise allows us to see what makes our idea different.
check out my post at http://politicalhopper.blogspot.com/2016/03/my-unfair-advantage.html